Jones Financial Companies LLLP (JNFC) 10-Q 1 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 27, 2014	Jul. 25, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	27-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'JNFC	'
Entity Registrant Name	'JONES FINANCIAL COMPANIES LLLP	'
Entity Central Index Key	'0000815917	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	636,577

CONSOLIDATED_STATEMENTS_OF_FIN

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
ASSETS:	'	'
Cash and cash equivalents	$536	$600
Cash and investments segregated under federal regulations	8,058	8,435
Securities purchased under agreements to resell	583	1,026
Receivable from:	'	'
Clients	2,537	2,300
Mutual funds, insurance companies and other	463	405
Brokers, dealers and clearing organizations	130	148
Securities owned, at fair value:	'	'
Inventory securities	117	102
Investment securities	150	141
Equipment, property and improvements, at cost, net of accumulated depreciation and amortization	549	543
Other assets	85	95
TOTAL ASSETS	13,208	13,795
Payable to:	'	'
Clients	10,109	10,596
Brokers, dealers and clearing organizations	123	79
Accrued compensation and employee benefits	696	843
Accounts payable, accrued expenses and other	237	142
Long-term debt	4	4
Total liabilities before liabilities subordinated to claims of general creditors	11,169	11,664
Liabilities subordinated to claims of general creditors	0	50
Contingencies (Note 6)	'	'
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals	1,929	1,858
Reserve for anticipated withdrawals	110	223
Total partnership capital subject to mandatory redemption	2,039	2,081
TOTAL LIABILITIES	$13,208	$13,795

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013
Fee revenue	'	'	'	'
Asset-based	$765	$617	$1,480	$1,187
Account and activity	147	140	291	279
Total fee revenue	912	757	1,771	1,466
Trade revenue	'	'	'	'
Commissions	544	566	1,077	1,106
Principal transactions	33	33	74	60
Investment banking	39	31	75	58
Total trade revenue	616	630	1,226	1,224
Interest and dividends	32	34	63	66
Other revenue	18	10	22	26
Total revenue	1,578	1,431	3,082	2,782
Interest expense	14	15	28	30
Net revenue	1,564	1,416	3,054	2,752
Operating expenses:	'	'	'	'
Compensation and benefits	1,050	943	2,042	1,830
Occupancy and equipment	91	89	183	179
Communications and data processing	72	73	143	146
Payroll and other taxes	55	53	118	111
Advertising	18	13	37	30
Postage and shipping	12	14	25	27
Professional and consulting fees	15	12	28	21
Other operating expenses	57	47	98	87
Total operating expenses	1,370	1,244	2,674	2,431
Income before allocations to partners	194	172	380	321
Income before allocations to partners	194	172	380	321
Allocations to partners:	'	'	'	'
Limited partners	21	20	41	37
Subordinated limited partners	22	19	43	36
General partners	151	133	296	248
Net income	$0	$0	$0	$0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$32.67	$30.92	$63.94	$57.64
Weighted average $1,000 equivalent limited partnership units outstanding	637,894	646,022	638,552	647,363

CONSOLIDATED_STATEMENTS_OF_INC1

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013
Income Statement [Abstract]	'	'	'	'
Limited partnership interest value	$1,000	$1,000	$1,000	$1,000

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION (Unaudited) (USD $)	Total	Limited Partnership Capital	Subordinated Limited Partnership Capital	General Partnership Capital
In Millions
Partnership loans outstanding at Dec. 31, 2012	$170	$0	$0	$170
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2012	1,982	651	283	1,048
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2012	1,812	651	283	878
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2012	1,983	696	302	985
Reserve for anticipated withdrawals at Dec. 31, 2012	-171	-45	-19	-107
Issuance of partnership interests	132	0	31	101
Redemption of partnership interests	-107	-5	-10	-92
Income allocated to partners	321	37	36	248
Distributions	-190	-4	-28	-158
Partnership loans outstanding, reduction to arrive at Partnership Capital	-231	0	0	-231
Reserve for anticipated withdrawals at Jun. 28, 2013	-96	-33	-7	-56
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Jun. 28, 2013	1,811	646	305	860
Total partnership capital, including capital financed with partnership loans at Jun. 28, 2013	2,138	679	312	1,147
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Jun. 28, 2013	1,907	679	312	916
Partnership loans outstanding at Dec. 31, 2013	215	0	0	215
Total partnership capital, including capital financed with partnership loans, net of reserve for anticipated withdrawals at Dec. 31, 2013	2,073	640	305	1,128
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Dec. 31, 2013	1,858	640	305	913
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Dec. 31, 2013	2,081	688	329	1,064
Reserve for anticipated withdrawals at Dec. 31, 2013	-223	-48	-24	-151
Issuance of partnership interests	138	0	46	92
Redemption of partnership interests	-107	-3	-14	-90
Income allocated to partners	380	41	43	296
Distributions	-229	-5	-35	-189
Partnership loans outstanding, reduction to arrive at Partnership Capital	-216	0	-2	-214
Reserve for anticipated withdrawals at Jun. 27, 2014	-110	-36	-8	-66
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals at Jun. 27, 2014	1,929	637	335	957
Total partnership capital, including capital financed with partnership loans at Jun. 27, 2014	2,255	673	345	1,237
TOTAL PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION at Jun. 27, 2014	$2,039	$673	$343	$1,023

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014	Jun. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$0	$0
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Income before allocations to partners	380	321
Depreciation and amortization	40	40
Changes in assets and liabilities:	'	'
Cash and investments segregated under federal regulations	377	-72
Securities purchased under agreements to resell	443	333
Net payable to clients	-724	-310
Net receivable from brokers, dealers and clearing organizations	62	62
Receivable from mutual funds, insurance companies and other	-58	-68
Securities owned	-24	3
Other assets	10	-3
Accrued compensation and employee benefits	-147	-68
Accounts payable, accrued expenses and other	97	80
Net cash provided by operating activities	456	318
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of equipment, property and improvements, net	-48	-46
Net cash used in investing activities	-48	-46
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Repayment of long-term debt	0	-1
Repayment of subordinated liabilities	-50	-50
Issuance of partnership interests (net of partnership loans)	54	38
Redemption of partnership interests	-107	-107
Distributions from partnership capital	-452	-361
Issuance of partnership loans	0	-11
Repayment of partnership loans	83	44
Net cash used in financing activities	-472	-448
Net decrease in cash and cash equivalents	-64	-176
CASH AND CASH EQUIVALENTS:	'	'
Beginning of period	600	601
End of period	536	425
Cash paid for interest	28	30
Cash paid for taxes	6	6
NON-CASH ACTIVITIES:	'	'
Additions of equipment, property and improvements in accounts payable and accrued expenses	2	1
Issuance of general partnership interests through partnership loans in current period	$84	$94

INTRODUCTION_AND_BASIS_OF_PRES

INTRODUCTION AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 27, 2014
Accounting Policies [Abstract]	'
INTRODUCTION AND BASIS OF PRESENTATION	'
	NOTE 1 – INTRODUCTION AND BASIS OF PRESENTATION
	The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership”). All material intercompany balances and transactions have been eliminated in consolidation. Non-controlling minority interests are accounted for under the equity method. The results of the Partnership’s subsidiaries in Canada are included in the Partnership’s Consolidated Financial Statements for the three and six month periods ended May 31, 2014 and 2013 because of the timing of the Partnership’s financial reporting process.
	The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is comprised of two registered broker-dealers primarily serving individual investors in the United States (“U.S.”) and, through a subsidiary, Canada. Edward Jones primarily derives its revenues from the retail brokerage business through the sale of listed and unlisted securities and insurance products, investment banking, principal transactions, distribution of mutual fund shares, and through fees related to assets held by and account services provided to its clients. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. For financial information related to the Partnership’s two operating segments for the three and six month periods ended June 27, 2014 and June 28, 2013, see Note 7 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“EJTC”), a wholly-owned subsidiary of the Partnership.
	The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the U.S. (“GAAP”) which require the use of certain estimates by management in determining the Partnership’s assets, liabilities, revenues and expenses. Actual results could differ from these estimates.
	The interim financial information included herein is unaudited. However, in the opinion of management, such information includes all adjustments, consisting primarily of normal recurring accruals, which are necessary for a fair presentation of the results of interim operations. Certain prior period amounts have been reclassified to conform to the current period presentation.
	There have been no material changes to the Partnership’s significant accounting policies as described in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2013 (“Annual Report”). The results of operations for the three and six month periods ended June 27, 2014 are not necessarily indicative of the results to be expected for the year ended December 31, 2014. These Consolidated Financial Statements should be read in conjunction with the Annual Report.

FAIR_VALUE

FAIR VALUE	6 Months Ended
	Jun. 27, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	NOTE 2 – FAIR VALUE
	Substantially all of the Partnership’s financial assets and financial liabilities covered under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 820,Fair Value Measurement and Disclosure (“ASC 820”), are carried at fair value or contracted amounts which approximate fair value. Upon the adoption of fair value guidance set forth in FASB ASC No. 825, Financial Instruments, the Partnership elected not to take the fair value option on all debt and liabilities subordinated to the claims of general creditors.
	Fair value of a financial instrument is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, also known as the “exit price.” Financial assets are marked to bid prices and financial liabilities are marked to offer prices. The Partnership’s financial assets and financial liabilities recorded at fair value in the Consolidated Statements of Financial Condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC 820 with the related amount of subjectivity associated with the inputs to value these assets and liabilities at fair value for each level, are as follows:
	Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	The types of assets and liabilities categorized as Level I generally are U.S. treasuries, investments in publicly traded mutual funds with quoted market prices, government and agency obligations, and equities listed in active markets.
	Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with related market data at the measurement date and for the duration of the instrument’s anticipated life. The Partnership uses the market approach valuation technique which incorporates third-party pricing services and other relevant observable information (such as market interest rates, yield curves, prepayment risk and credit risk generated by market transactions involving identical or comparable assets or liabilities) in valuing these types of investments. When third-party pricing services are used, the methods and assumptions used are reviewed by the Partnership.
	The types of assets and liabilities categorized as Level II generally are certificates of deposit, state and municipal obligations, corporate bonds and notes, and collateralized mortgage obligations.
	Level III – Inputs are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the inputs to the model.
	The Partnership did not have any assets or liabilities categorized as Level III during the periods ended June 27, 2014 and December 31, 2013. In addition, there were no transfers into or out of Levels I, II or III during these periods. Securities sold, not yet purchased are included within accounts payable, accrued expenses and other on the Consolidated Statements of Financial Condition.
	The following tables show the Partnership’s financial assets and liabilities measured at fair value:
		Financial Assets at Fair Value as of
		June 27, 2014
		Level I		Level II		Level III		Total
	Investments segregated under federal regulations:
	U.S. treasuries	$	1,153	$	-	$	-	$	1,153
	Certificates of deposit		-		225		-		225
	Total investments segregated under federal regulations	$	1,153	$	225	$	-	$	1,378
	Securities owned:
	Inventory securities:
	State and municipal obligations	$	-	$	59	$	-	$	59
	Equities		38		-		-		38
	Certificates of deposit		-		11		-		11
	Corporate bonds and notes		-		4		-		4
	Collateralized mortgage obligations		-		3		-		3
	Other		2		-		-		2
	Total inventory securities	$	40	$	77	$	-	$	117
	Investment securities:
	Mutual funds	$	125	$	-	$	-	$	125
	Government and agency obligations		19		-		-		19
	Equities		5		-		-		5
	Other		-		1		-		1
	Total investment securities	$	149	$	1	$	-	$	150
		Financial Liabilities at Fair Value as of
		June 27, 2014
		Level I		Level II		Level III		Total
	Securities sold, not yet purchased:
	Corporate bonds and notes	$	-	$	2	$	-	$	2
	Equities		2		-		-		2
	Other		-		1		-		1
	Total securities sold, not yet purchased	$	2	$	3	$	-	$	5
		Financial Assets at Fair Value as of
		December 31, 2013
		Level I		Level II		Level III		Total
	Investments segregated under federal regulations:
	U.S. treasuries	$	1,154	$	-	$	-	$	1,154
	Certificates of deposit		-		225		-		225
	Total investments segregated under federal regulations	$	1,154	$	225	$	-	$	1,379
	Securities owned:
	Inventory securities:
	State and municipal obligations	$	-	$	67	$	-	$	67
	Equities		27		-		-		27
	Corporate bonds and notes		-		3		-		3
	Certificates of deposit		-		2		-		2
	Unit investment trusts		2		-		-		2
	Other		-		1		-		1
	Total inventory securities	$	29	$	73	$	-	$	102
	Investment securities:
	Mutual funds	$	116	$	-	$	-	$	116
	Government and agency obligations		19		-		-		19
	Equities		5		-		-		5
	Other		-		1		-		1
	Total investment securities	$	140	$	1	$	-	$	141
		Financial Liabilities at Fair Value as of
December 31, 2013
	Level I		Level II		Level III		Total
Securities sold, not yet purchased:
Corporate bonds and notes	$	-	$	2	$	-	$	2
Equities		1		-		-		1
Other		-		1		-		1
Total securities sold, not yet purchased	$	1	$	3	$	-	$	4
The Partnership attempts to reduce its exposure to market price fluctuations of its inventory securities through the sale of U.S. Treasury securities futures contracts. The amount of futures contracts purchased or sold fluctuates on a daily basis due to changes in inventory securities owned, interest rates and market conditions. Futures contracts are settled daily, and any gain or loss is recognized as a component of net inventory gains, which are included in principal transactions revenue. The notional amounts of futures contracts outstanding were $4 and $9 at June 27, 2014 and December 31, 2013, respectively. The average notional amounts of futures contracts outstanding throughout the three and six month periods ended June 27, 2014 and the year ended December 31, 2013 were approximately $5, $5 and $7, respectively. The underlying assets of these contracts are not reflected in the Partnership’s Consolidated Financial Statements; however, the related mark-to-market adjustments are included in receivables from mutual funds, insurance companies and other in the Consolidated Statements of Financial Condition and were unrealized gains of $0.007 and $0.031 as of June 27, 2014 and December 31, 2013, respectively. The total gains or losses related to these assets, recorded within the Consolidated Statements of Income, were losses of $0.180 and $0.503 for the three and six month periods ended June 27, 2014, respectively, and gains of $0.420 and $0.200 for the three and six month periods ended June 28, 2013, respectively.
The Partnership estimates the fair value of long-term debt and the liabilities subordinated to claims of general creditors based on the present value of future principal and interest payments associated with the debt, using current interest rates for debt of a similar nature as that of the Partnership (Level II input). The following table shows the estimated fair values and book values of long-term debt and liabilities subordinated to claims of general creditors as of:
	June 27, 2014				December 31, 2013
	Book Value		Fair Value		Book Value		Fair Value
Long-term debt	$	4	$	4	$	4	$	5
Liabilities subordinated to claims of general creditors		-		-		50		50
Total	$	4	$	4	$	54	$	55
In June 2014, the Partnership paid the final scheduled installment on the liabilities subordinated to claims of general creditors of $50.

LINES_OF_CREDIT

LINES OF CREDIT	6 Months Ended
	Jun. 27, 2014
Text Block [Abstract]	'
LINES OF CREDIT	'
	NOTE 3 – LINES OF CREDIT
	The following table shows the composition of the Partnership’s aggregate bank lines of credit in place as of:
		June 27,		December 31,
		2014		2013
	2013 Credit Facility	$	400	$	400
	Uncommitted secured credit facilities		415		415
	Total lines of credit	$	815	$	815
	In November 2013, the Partnership entered into an agreement with 12 banks for a five-year $400 committed unsecured revolving line of credit (“2013 Credit Facility”), which has an expiration date of November 15, 2018 and replaced a similarly termed credit facility. The 2013 Credit Facility is intended to provide short-term liquidity to the Partnership should the need arise. The 2013 Credit Facility has a tiered interest rate margin based on the Partnership’s leverage ratio (ratio of total debt to total capitalization). Borrowings made with a three-day advance notice will have a rate of one-month LIBOR plus a margin ranging from 1.25% to 2.00%. Same day borrowings, which are subject to certain borrowing notification cutoff times, will have a rate consisting of a margin ranging from 0.25% to 1.00% plus the greater of the prime rate, the federal funds effective rate plus 1.00%, or the one-month LIBOR rate plus 1.00%. In accordance with the terms of the 2013 Credit Facility, the Partnership is required to maintain a leverage ratio of no more than 35% and minimum partnership capital, net of reserve for anticipated withdrawals, of at least $1,382 plus 50% of subsequent issuances of partnership capital. As of June 27, 2014, the Partnership was in compliance with all covenants related to the 2013 Credit Facility. As of the date of this filing, the Partnership has not borrowed against the 2013 Credit Facility.
	The Partnership’s uncommitted lines of credit are subject to change at the discretion of the banks and, therefore, due to credit market conditions and the uncommitted nature of these credit facilities, it is possible these lines of credit could decrease or not be available in the future. Actual borrowing availability on the uncommitted lines of credit is based on client margin securities and Partnership securities, which would serve as collateral in the event the Partnership borrowed against these lines.
	There were no amounts outstanding on these lines of credit as of June 27, 2014 and December 31, 2013. In addition, the Partnership did not have any draws against these lines of credit during the six and twelve month periods ended June 27, 2014 and December 31, 2013, respectively.

PARTNERSHIP_CAPITAL_SUBJECT_TO

PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION	6 Months Ended
	Jun. 27, 2014
Other Liabilities Disclosure [Abstract]	'
PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION	'
	NOTE 4 – PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION
	The following table shows the Partnership’s capital subject to mandatory redemption as of:
		June 27,		December 31,
		2014		2013
	Partnership capital outstanding:
	Limited partnership capital	$	637	$	640
	Subordinated limited partnership capital		337		305
	General partnership capital		1,171		1,128
	Total partnership capital outstanding		2,145		2,073
	Partnership loans outstanding:
	Partnership loans outstanding at beginning of period		(215)		(170)
	Partnership loans issued during the period		(84)		(107)
	Repayment of partnership loans during the period		83		62
	Total partnership loans outstanding		(216)		(215)
	Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals		1,929		1,858
	Reserve for anticipated withdrawals		110		223
	Partnership capital subject to mandatory redemption	$	2,039	$	2,081
	FASB ASC No. 480, Distinguishing Liabilities from Equity (“ASC 480”), established standards for classifying and measuring certain financial instruments with characteristics of both liabilities and equity. Under the provisions of ASC 480, the obligation to redeem a partner’s capital in the event of a partner’s death is one of the criteria requiring capital to be classified as a liability.
	As discussed in the Form 8-K filed on June 9, 2014, which is incorporated by reference, in June 2014 the Partnership entered into the Nineteenth Amended and Restated Agreement of Registered Limited Liability Limited Partnership (the “Partnership Agreement”). Under the terms of the Partnership Agreement, a partner’s capital is required to be redeemed by the Partnership in the event of the partner’s death or withdrawal from the Partnership, subject to compliance with ongoing regulatory capital requirements. In the event of a partner’s death, the Partnership must generally redeem the partner’s capital within six months. The Partnership has restrictions in place which govern the withdrawal of capital. Under the terms of the Partnership Agreement, limited partners withdrawing from the Partnership are to be repaid their capital in three equal annual installments beginning no earlier than 90 days after their withdrawal notice is received by the Managing Partner. The capital of general partners withdrawing from the Partnership is converted to subordinated limited partnership capital or, at the discretion of the Managing Partner, redeemed by the Partnership. Subordinated limited partners are repaid their capital in six equal annual installments beginning no earlier than 90 days after their request for withdrawal of contributed capital is received by the Managing Partner. The Partnership’s Managing Partner has discretion to waive or modify these withdrawal restrictions and to accelerate the return of capital. All current and future partnership capital is subordinate to all current and future liabilities of the Partnership. The Partnership Agreement includes additional terms. Refer to Exhibit 3.1 for the complete Partnership Agreement.
	Since the Partnership Agreement obligates the Partnership to redeem a partner’s capital after a partner’s death, ASC 480 requires all of the Partnership’s equity capital be classified as a liability. In accordance with ASC 480, income allocable to limited, subordinated limited and general partners is classified as a reduction of income before allocations to partners, which results in presentation of $0 net income.
	Net income, as defined in the Partnership Agreement, is equivalent to income before allocations to partners on the Consolidated Statements of Income. Such income, if any, for each calendar year is allocated to the Partnership’s three classes of capital in accordance with the formulas prescribed in the Partnership Agreement. Income allocations are based upon partner capital contributions, including capital contributions financed with loans from the Partnership as indicated in the previous table. First, limited partners are allocated net income (as defined in the Partnership Agreement) in accordance with the prescribed formula for their share of net income. Limited partners do not share in the net loss in any year in which there is a net loss and the Partnership is not dissolved or liquidated. Thereafter, subordinated limited partners and general partners are allocated any remaining net income or net loss based on formulas as defined in the Partnership Agreement.
	The Partnership filed a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission (“SEC”) on January 17, 2014 to register $350 in securities in preparation for its anticipated 2014 Limited Partnership offering. The Partnership intends to offer approximately $300 in Interests to eligible financial advisors, branch office administrators and home office associates. The remaining $50 may be issued at the discretion of the Managing Partner and Executive Committee, which may include issuances to financial advisors who complete a retirement transition plan in future years and who may be considered for additional limited partnership interest. The 2014 Limited Partnership offering is expected to close in early 2015. Limited partners participate in the Partnership’s profits and are paid a minimum 7.5% annual return on the face amount of their capital (“7.5% Payment”), although the 7.5% Payment is not guaranteed by the Partnership and no reserve has been set aside for such payments.
	The Partnership makes loans available to those general partners (other than members of the Executive Committee, which consists of the executive officers of the Partnership) who require financing for some or all of their partnership capital contributions. It is anticipated that a majority of future general and subordinated limited partnership capital contributions (other than for Executive Committee members) requiring financing will be financed through partnership loans. In limited circumstances a general partner may withdraw from the Partnership and become a subordinated limited partner while he or she still has an outstanding partnership loan. Loans made by the Partnership to partners are generally for a period of one year but are expected to be renewed and bear interest at the prime rate, as defined in the loan documents. The Partnership recognizes interest income for the interest received related to these loans. The outstanding amount of partner loans financed through the Partnership is reflected as a reduction to total partnership capital in the Consolidated Statements of Changes in Partnership Capital Subject to Mandatory Redemption. As of June 27, 2014 and December 31, 2013, the outstanding amount of partner loans financed through the Partnership was $216 and $215, respectively. Interest income earned from these loans, which is included in interest and dividends in the Consolidated Statements of Income, was $2 and $4 for the three and six month periods ended June 27, 2014, respectively, and $2 and $4 for the three and six month periods ended June 28, 2013, respectively.
	The limited partnership capital subject to mandatory redemption is held by current and former employees and general partners of the Partnership. Limited partners participate in the Partnership’s profits and are paid a minimum 7.5% annual return on the face amount of their capital, in accordance with the Partnership Agreement. The minimum 7.5% annual return was $12 and $24 for the three and six month periods ended June 27, 2014, respectively, and $12 and $24 for the three and six month periods ended June 28, 2013, respectively. These amounts are included as a component of interest expense in the Consolidated Statements of Income.
	The subordinated limited partnership capital subject to mandatory redemption is held by current and former general partners of the Partnership. Subordinated limited partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The subordinated limited partnership capital subject to mandatory redemption is subordinated to the limited partnership capital.
	The general partnership capital subject to mandatory redemption is held by current general partners of the Partnership. General partners receive a percentage of the Partnership’s net income determined in accordance with the Partnership Agreement. The general partnership capital subject to mandatory redemption is subordinated to the limited partnership capital and the subordinated limited partnership capital.

NET_CAPITAL_REQUIREMENTS

NET CAPITAL REQUIREMENTS	6 Months Ended
	Jun. 27, 2014
Brokers And Dealers [Abstract]	'
NET CAPITAL REQUIREMENTS	'
	NOTE 5 – NET CAPITAL REQUIREMENTS
	As a result of its activities as a broker-dealer, Edward Jones is subject to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934 (“Exchange Act”) and capital compliance rules of the Financial Industry Regulatory Authority (“FINRA”) Rule 4110. Under the alternative method permitted by the rules, Edward Jones must maintain minimum net capital equal to the greater of $0.25 or 2% of aggregate debit items arising from client transactions. The net capital rules also provide that Edward Jones’ partnership capital may not be withdrawn if resulting net capital would be less than minimum requirements. Additionally, certain withdrawals require the approval of the SEC and FINRA to the extent they exceed defined levels, even though such withdrawals would not cause net capital to be less than minimum requirements.
	The Partnership’s Canada broker-dealer is a registered securities dealer regulated by the Investment Industry Regulatory Organization of Canada (“IIROC”). Under the regulations prescribed by IIROC, the Partnership is required to maintain minimum levels of risk adjusted capital, which are dependent on the nature of the Partnership’s assets and operations.
	The following table shows the Partnership’s net capital figures for its U.S. and Canada broker-dealers as of:
		June 27,		December 31,
		2014		2013
	U.S.:
	Net capital	$	913	$	873
	Net capital in excess of the minimum required	$	866	$	830
	Net capital as a percentage of aggregate debit items		39.0%		41.4%
	Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items		26.2%		24.8%
	Canada:
	Regulatory risk adjusted capital	$	29	$	34
	Regulatory risk adjusted capital in excess of the minimum required to be held by IIROC	$	21	$	27
	Net capital and the related capital percentages may fluctuate on a daily basis. In addition, EJTC was in compliance with its regulatory capital requirements.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 27, 2014
Commitments And Contingencies Disclosure [Abstract]	'
CONTINGENCIES	'
	NOTE 6 – CONTINGENCIES
	In the normal course of business, the Partnership has been named as a defendant in various legal actions, including arbitrations, class actions and other litigation. Certain of these legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. The Partnership is also involved from time to time in investigations and proceedings by governmental and self-regulatory organizations, certain of which may result in adverse judgments, fines or penalties. In addition, the Partnership provides for potential losses that may arise related to other contingencies.
	The Partnership assesses its liabilities and contingencies utilizing available information. For those matters where it is probable the Partnership will incur a potential loss and the amount of the loss is reasonably estimable, in accordance with FASB ASC No. 450, Contingencies, an accrued liability has been established. These reserves represent the Partnership’s aggregate estimate of the potential loss contingency at June 27, 2014 and are believed to be sufficient. Such liability may be adjusted from time to time to reflect any relevant developments.
	For such matters where an accrued liability has not been established and the Partnership believes a loss is both reasonably possible and estimable, as well as for matters where an accrued liability has been recorded but for which an exposure to loss in excess of the amount accrued is both reasonably possible and estimable, the current estimated aggregated range of additional possible loss is $7 to $43. This range of reasonably possible loss does not necessarily represent the Partnership’s maximum loss exposure as the Partnership was not able to estimate a range of reasonably possible loss for all matters.
	Further, the matters underlying any disclosed estimated range will change from time to time, and actual results may vary significantly. While the outcome of these matters is inherently uncertain, based on information currently available, the Partnership believes that its established reserves at June 27, 2014 are adequate and the liabilities arising from such proceedings will not have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Partnership. However, based on future developments and the potential unfavorable resolution of these matters, the outcome could be material to the Partnership’s future consolidated operating results for a particular period or periods.

SEGMENT_INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 27, 2014
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	NOTE 7 – SEGMENT INFORMATION
	The Partnership has determined it has two operating and reportable segments based upon geographic location, the U.S. and Canada. Canada segment information is based upon the Consolidated Financial Statements of the Partnership’s Canada operations without eliminating intercompany items, such as management fees paid to affiliated entities. The U.S. segment information is derived from the Consolidated Financial Statements less the Canada segment information as presented. This is consistent with how management reviews the segments in order to assess performance.
	The Partnership derived from one mutual fund company 20% of its total revenue for both the three and six month periods ended June 27, 2014, respectively, and 20% of its total revenue for both the three and six month periods ended June 28, 2013. The revenue generated from this company related to business conducted with the Partnership’s U.S. segment. Significant reductions in revenue due to regulatory reform or other changes to the Partnership’s relationship with this mutual fund company could have a material impact on the Partnership’s results of operations.
	The following table shows financial information for the Partnership’s reportable segments:
		Three Months Ended				Six Months Ended
		June 27,		June 28,		June 27,		June 28,
		2014		2013		2014		2013
	Net revenue:
	U.S.	$	1,513	$	1,366	$	2,951	$	2,650
	Canada		51		50		103		102
	Total net revenue	$	1,564	$	1,416	$	3,054	$	2,752
	Pre-variable income:
	U.S.	$	387	$	323	$	746	$	604
	Canada		2		2		7		5
	Total pre-variable income		389		325		753		609
	Variable compensation:
	U.S.		189		148		362		279
	Canada		6		5		11		9
	Total variable compensation		195		153		373		288
	Income (loss) before allocations to partners:
	U.S.		198		175		384		325
	Canada		(4)		(3)		(4)		(4)
	Total income before allocations to partners	$	194	$	172	$	380	$	321

OFFSETTING_ASSETS_AND_LIABILIT

OFFSETTING ASSETS AND LIABILITIES

6 Months Ended

Jun. 27, 2014

Text Block [Abstract]

'

OFFSETTING ASSETS AND LIABILITIES

'

NOTE 8 – OFFSETTING ASSETS AND LIABILITIES

The Partnership does not offset financial instruments in the Consolidated Statements of Financial Condition. However, the Partnership enters into master netting arrangements with counterparties for securities purchased under agreements to resell that are subject to net settlement in the event of default. These agreements create a right of offset for the amounts due to and due from the same counterparty in the event of default or bankruptcy.

The following table shows the Partnership’s securities purchased under agreements to resell as of:

Gross

Gross amounts

Net amounts

Gross amounts not offset in

amounts of

offset in the

presented in the

the Consolidated

recognized

Consolidated

Consolidated

Statements of Financial

assets

Statements of

Statements of

Condition

Financial

Financial

Condition

Condition

Financial

Securities

Net amount

instruments

collateral(1)

27-Jun-14

$

583

-

583

-

(583

)

$

-

31-Dec-13

$

1,026

-

1,026

-

(1,026

)

$

-

(1) Actual collateral was greater than 102% of the related assets in U.S. agreements and greater than 100% in Canada agreements for all periods presented.

RECENTLY_ISSUED_ACCOUNTING_STA

RECENTLY ISSUED ACCOUNTING STANDARDS	6 Months Ended
	Jun. 27, 2014
Accounting Changes And Error Corrections [Abstract]	'
RECENTLY ISSUED ACCOUNTING STANDARDS	'
	NOTE 9 – RECENTLY ISSUED ACCOUNTING STANDARDS
	In May 2014, the FASB and the International Accounting Standards Board (“IASB”) jointly issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance. The objective of ASU 2014-09 is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for the first quarter of 2017. An entity can elect to adopt ASU 2014-09 using one of two methods, either full retrospective adoption to each prior reporting period, or recognizing the cumulative effect of adoption at the date of initial application. The Partnership is in the process of evaluating the new standard and does not know the effect, if any, ASU 2014-09 will have on the Consolidated Financial Statements or which adoption method will be used.

INTRODUCTION_AND_BASIS_OF_PRES1

INTRODUCTION AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 27, 2014
Accounting Policies [Abstract]	'
The Partnership's Business and Basis of Accounting	'
	The accompanying Consolidated Financial Statements include the accounts of The Jones Financial Companies, L.L.L.P. and all wholly-owned subsidiaries (collectively, the “Partnership”). All material intercompany balances and transactions have been eliminated in consolidation. Non-controlling minority interests are accounted for under the equity method. The results of the Partnership’s subsidiaries in Canada are included in the Partnership’s Consolidated Financial Statements for the three and six month periods ended May 31, 2014 and 2013 because of the timing of the Partnership’s financial reporting process.
	The Partnership’s principal operating subsidiary, Edward D. Jones & Co., L.P. (“Edward Jones”), is comprised of two registered broker-dealers primarily serving individual investors in the United States (“U.S.”) and, through a subsidiary, Canada. Edward Jones primarily derives its revenues from the retail brokerage business through the sale of listed and unlisted securities and insurance products, investment banking, principal transactions, distribution of mutual fund shares, and through fees related to assets held by and account services provided to its clients. The Partnership conducts business throughout the U.S. and Canada with its clients, various brokers, dealers, clearing organizations, depositories and banks. For financial information related to the Partnership’s two operating segments for the three and six month periods ended June 27, 2014 and June 28, 2013, see Note 7 to the Consolidated Financial Statements. Trust services are offered to Edward Jones’ U.S. clients through Edward Jones Trust Company (“EJTC”), a wholly-owned subsidiary of the Partnership.
	The Consolidated Financial Statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the U.S. (“GAAP”) which require the use of certain estimates by management in determining the Partnership’s assets, liabilities, revenues and expenses. Actual results could differ from these estimates.
	The interim financial information included herein is unaudited. However, in the opinion of management, such information includes all adjustments, consisting primarily of normal recurring accruals, which are necessary for a fair presentation of the results of interim operations. Certain prior period amounts have been reclassified to conform to the current period presentation.
	There have been no material changes to the Partnership’s significant accounting policies as described in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2013 (“Annual Report”). The results of operations for the three and six month periods ended June 27, 2014 are not necessarily indicative of the results to be expected for the year ended December 31, 2014. These Consolidated Financial Statements should be read in conjunction with the Annual Report.
Fair Value	'
	Substantially all of the Partnership’s financial assets and financial liabilities covered under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 820, Fair Value Measurement and Disclosure (“ASC 820”), are carried at fair value or contracted amounts which approximate fair value. Upon the adoption of fair value guidance set forth in FASB ASC No. 825, Financial Instruments, the Partnership elected not to take the fair value option on all debt and liabilities subordinated to the claims of general creditors.
	Fair value of a financial instrument is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, also known as the “exit price.” Financial assets are marked to bid prices and financial liabilities are marked to offer prices. The Partnership’s financial assets and financial liabilities recorded at fair value in the Consolidated Statements of Financial Condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC 820 with the related amount of subjectivity associated with the inputs to value these assets and liabilities at fair value for each level, are as follows:
	Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	The types of assets and liabilities categorized as Level I generally are U.S. treasuries, investments in publicly traded mutual funds with quoted market prices, government and agency obligations, and equities listed in active markets.
	Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with related market data at the measurement date and for the duration of the instrument’s anticipated life. The Partnership uses the market approach valuation technique which incorporates third-party pricing services and other relevant observable information (such as market interest rates, yield curves, prepayment risk and credit risk generated by market transactions involving identical or comparable assets or liabilities) in valuing these types of investments. When third-party pricing services are used, the methods and assumptions used are reviewed by the Partnership.
	The types of assets and liabilities categorized as Level II generally are certificates of deposit, state and municipal obligations, corporate bonds and notes, and collateralized mortgage obligations.
	Level III – Inputs are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the inputs to the model.
	The Partnership did not have any assets or liabilities categorized as Level III during the periods ended June 27, 2014 and December 31, 2013. In addition, there were no transfers into or out of Levels I, II or III during these periods. Securities sold, not yet purchased are included within accounts payable, accrued expenses and other on the Consolidated Statements of Financial Condition.
Partnership Capital Subject to Mandatory Redemption (ASC No. 480)	'
	FASB ASC No. 480, Distinguishing Liabilities from Equity (“ASC 480”), established standards for classifying and measuring certain financial instruments with characteristics of both liabilities and equity. Under the provisions of ASC 480, the obligation to redeem a partner’s capital in the event of a partner’s death is one of the criteria requiring capital to be classified as a liability.
	As discussed in the Form 8-K filed on June 9, 2014, which is incorporated by reference, in June 2014 the Partnership entered into the Nineteenth Amended and Restated Agreement of Registered Limited Liability Limited Partnership (the “Partnership Agreement”). Under the terms of the Partnership Agreement, a partner’s capital is required to be redeemed by the Partnership in the event of the partner’s death or withdrawal from the Partnership, subject to compliance with ongoing regulatory capital requirements. In the event of a partner’s death, the Partnership must generally redeem the partner’s capital within six months. The Partnership has restrictions in place which govern the withdrawal of capital. Under the terms of the Partnership Agreement, limited partners withdrawing from the Partnership are to be repaid their capital in three equal annual installments beginning no earlier than 90 days after their withdrawal notice is received by the Managing Partner. The capital of general partners withdrawing from the Partnership is converted to subordinated limited partnership capital or, at the discretion of the Managing Partner, redeemed by the Partnership. Subordinated limited partners are repaid their capital in six equal annual installments beginning no earlier than 90 days after their request for withdrawal of contributed capital is received by the Managing Partner. The Partnership’s Managing Partner has discretion to waive or modify these withdrawal restrictions and to accelerate the return of capital. All current and future partnership capital is subordinate to all current and future liabilities of the Partnership. The Partnership Agreement includes additional terms. Refer to Exhibit 3.1 for the complete Partnership Agreement.
	Since the Partnership Agreement obligates the Partnership to redeem a partner’s capital after a partner’s death, ASC 480 requires all of the Partnership’s equity capital be classified as a liability. In accordance with ASC 480, income allocable to limited, subordinated limited and general partners is classified as a reduction of income before allocations to partners, which results in presentation of $0 net income.
	Net income, as defined in the Partnership Agreement, is equivalent to income before allocations to partners on the Consolidated Statements of Income. Such income, if any, for each calendar year is allocated to the Partnership’s three classes of capital in accordance with the formulas prescribed in the Partnership Agreement. Income allocations are based upon partner capital contributions, including capital contributions financed with loans from the Partnership as indicated in the previous table. First, limited partners are allocated net income (as defined in the Partnership Agreement) in accordance with the prescribed formula for their share of net income. Limited partners do not share in the net loss in any year in which there is a net loss and the Partnership is not dissolved or liquidated. Thereafter, subordinated limited partners and general partners are allocated any remaining net income or net loss based on formulas as defined in the Partnership Agreement.
Contingencies (ASC No.450)	'
	The Partnership assesses its liabilities and contingencies utilizing available information. For those matters where it is probable the Partnership will incur a potential loss and the amount of the loss is reasonably estimable, in accordance with FASB ASC No. 450, Contingencies, an accrued liability has been established. These reserves represent the Partnership’s aggregate estimate of the potential loss contingency at June 27, 2014 and are believed to be sufficient. Such liability may be adjusted from time to time to reflect any relevant developments.

FAIR_VALUE_Tables

FAIR VALUE (Tables)	6 Months Ended
	Jun. 27, 2014
Fair Value Disclosures [Abstract]	'
Partnership's Financial Assets at Fair Value	'
	The following tables show the Partnership’s financial assets and liabilities measured at fair value:
			Financial Assets at Fair Value as of
			June 27, 2014
			Level I		Level II		Level III		Total
	Investments segregated under federal regulations:
	U.S. treasuries		$	1,153	$	-	$	-	$	1,153
	Certificates of deposit			-		225		-		225
	Total investments segregated under federal regulations		$	1,153	$	225	$	-	$	1,378
	Securities owned:
	Inventory securities:
	State and municipal obligations		$	-	$	59	$	-	$	59
	Equities			38		-		-		38
	Certificates of deposit			-		11		-		11
	Corporate bonds and notes			-		4		-		4
	Collateralized mortgage obligations			-		3		-		3
	Other			2		-		-		2
	Total inventory securities		$	40	$	77	$	-	$	117
	Investment securities:
	Mutual funds		$	125	$	-	$	-	$	125
	Government and agency obligations			19		-		-		19
	Equities			5		-		-		5
	Other			-		1		-		1
	Total investment securities		$	149	$	1	$	-	$	150
		Financial Assets at Fair Value as of
		December 31, 2013
			Level I		Level II		Level III		Total
	Investments segregated under federal regulations:
	U.S. treasuries		$	1,154	$	-	$	-	$	1,154
	Certificates of deposit			-		225		-		225
	Total investments segregated under federal regulations		$	1,154	$	225	$	-	$	1,379
	Securities owned:
	Inventory securities:
	State and municipal obligations		$	-	$	67	$	-	$	67
	Equities			27		-		-		27
	Corporate bonds and notes			-		3		-		3
	Certificates of deposit			-		2		-		2
	Unit investment trusts			2		-		-		2
	Other			-		1		-		1
	Total inventory securities		$	29	$	73	$	-	$	102
	Investment securities:
	Mutual funds		$	116	$	-	$	-	$	116
	Government and agency obligations			19		-		-		19
	Equities			5		-		-		5
	Other			-		1		-		1
	Total investment securities		$	140	$	1	$	-	$	141
Partnership's Financial Liabilities at Fair Value	'
	Financial Liabilities at Fair Value as of
	June 27, 2014
			Level I		Level II		Level III		Total
	Securities sold, not yet purchased:
	Corporate bonds and notes		$	-	$	2	$	-	$	2
	Equities			2		-		-		2
	Other			-		1		-		1
	Total securities sold, not yet purchased		$	2	$	3	$	-	$	5
	Financial Liabilities at Fair Value as of
	December 31, 2013
			Level I		Level II		Level III		Total
	Securities sold, not yet purchased:
	Corporate bonds and notes		$	-	$	2	$	-	$	2
	Equities			1		-		-		1
	Other			-		1		-		1
	Total securities sold, not yet purchased		$	1	$	3	$	-	$	4
Estimated Fair Values and Book Values of Long Term Debt and Liabilities Subordinated to Claims of General Creditors	'
	The following table shows the estimated fair values and book values of long-term debt and liabilities subordinated to claims of general creditors as of:
			June 27, 2014				December 31, 2013
			Book Value		Fair Value		Book Value		Fair Value
	Long-term debt		$	4	$	4	$	4	$	5
	Liabilities subordinated to claims of general creditors			-		-		50		50
	Total		$	4	$	4	$	54	$	55

LINES_OF_CREDIT_Tables

LINES OF CREDIT (Tables)	6 Months Ended
	Jun. 27, 2014
Text Block [Abstract]	'
Composition of Partnership's Aggregate Bank Lines of Credit	'
	The following table shows the composition of the Partnership’s aggregate bank lines of credit in place as of:
		June 27,		December 31,
		2014		2013
	2013 Credit Facility	$	400	$	400
	Uncommitted secured credit facilities		415		415
	Total lines of credit	$	815	$	815

PARTNERSHIP_CAPITAL_SUBJECT_TO1

PARTNERSHIP CAPITAL SUBJECT TO MANDATORY REDEMPTION (Tables)	6 Months Ended
	Jun. 27, 2014
Other Liabilities Disclosure [Abstract]	'
Composition of Partnership's Capital Subject to Mandatory Redemption	'
	The following table shows the Partnership’s capital subject to mandatory redemption as of:
		June 27,		December 31,
		2014		2013
	Partnership capital outstanding:
	Limited partnership capital	$	637	$	640
	Subordinated limited partnership capital		337		305
	General partnership capital		1,171		1,128
	Total partnership capital outstanding		2,145		2,073
	Partnership loans outstanding:
	Partnership loans outstanding at beginning of period		(215)		(170)
	Partnership loans issued during the period		(84)		(107)
	Repayment of partnership loans during the period		83		62
	Total partnership loans outstanding		(216)		(215)
	Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals		1,929		1,858
	Reserve for anticipated withdrawals		110		223
	Partnership capital subject to mandatory redemption	$	2,039	$	2,081

NET_CAPITAL_REQUIREMENTS_Table

NET CAPITAL REQUIREMENTS (Tables)	6 Months Ended
	Jun. 27, 2014
Brokers And Dealers [Abstract]	'
Partnership's Net Capital Figures for U.S. and Canada Broker-Dealers	'
	The following table shows the Partnership’s net capital figures for its U.S. and Canada broker-dealers as of:
		June 27,		December 31,
		2014		2013
	U.S.:
	Net capital	$	913	$	873
	Net capital in excess of the minimum required	$	866	$	830
	Net capital as a percentage of aggregate debit items		39.0%		41.4%
	Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items		26.2%		24.8%
	Canada:
	Regulatory risk adjusted capital	$	29	$	34
	Regulatory risk adjusted capital in excess of the minimum required to be held by IIROC	$	21	$	27

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 27, 2014
Segment Reporting [Abstract]	'
Financial Information for Partnership's Reportable Segments	'
	The following table shows financial information for the Partnership’s reportable segments:
		Three Months Ended				Six Months Ended
		June 27,		June 28,		June 27,		June 28,
		2014		2013		2014		2013
	Net revenue:
	U.S.	$	1,513	$	1,366	$	2,951	$	2,650
	Canada		51		50		103		102
	Total net revenue	$	1,564	$	1,416	$	3,054	$	2,752
	Pre-variable income:
	U.S.	$	387	$	323	$	746	$	604
	Canada		2		2		7		5
	Total pre-variable income		389		325		753		609
	Variable compensation:
	U.S.		189		148		362		279
	Canada		6		5		11		9
	Total variable compensation		195		153		373		288
	Income (loss) before allocations to partners:
	U.S.		198		175		384		325
	Canada		(4)		(3)		(4)		(4)
	Total income before allocations to partners	$	194	$	172	$	380	$	321

OFFSETTING_ASSETS_AND_LIABILIT1

OFFSETTING ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 27, 2014

Text Block [Abstract]

'

Schedule of Partnership's Securities Purchased Under Agreement to Resell

'

The following table shows the Partnership’s securities purchased under agreements to resell as of:

Gross

Gross amounts

Net amounts

Gross amounts not offset in

amounts of

offset in the

presented in the

the Consolidated

recognized

Consolidated

Consolidated

Statements of Financial

assets

Statements of

Statements of

Condition

Financial

Financial

Condition

Condition

Financial

Securities

Net amount

instruments

collateral(1)

27-Jun-14

$

583

-

583

-

(583

)

$

-

31-Dec-13

$

1,026

-

1,026

-

(1,026

)

$

-

(1) Actual collateral was greater than 102% of the related assets in U.S. agreements and greater than 100% in Canada agreements for all periods presented.

Recovered_Sheet1

Introduction and Basis of Presentation - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013
	Segment	Segment	Segment	Segment
Basis Of Presentation [Abstract]	'	'	'	'
Number of operating segments	2	2	2	2

Fair_Value_Additional_Informat

Fair Value - Additional Information (Detail) (USD $)	1 Months Ended	6 Months Ended		12 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 27, 2014	Jun. 27, 2014	Jun. 28, 2013	Dec. 31, 2013	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013	Dec. 31, 2013
					Future [Member]	Future [Member]	Future [Member]	Future [Member]	Future [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'	'
Fair value of level III, assets	'	$0	'	$0	'	'	'	'	'
Fair value of level III, liabilities	'	0	'	0	'	'	'	'	'
Transfers between levels I, II and III	'	0	'	0	'	'	'	'	'
Notional amounts of futures contracts outstanding	'	'	'	'	4,000,000	'	4,000,000	'	9,000,000
Average notional amounts of futures contracts outstanding	'	'	'	'	5,000,000	'	5,000,000	'	7,000,000
Mark-to-market adjustment gain (loss)	'	'	'	'	7,000	'	7,000	'	31,000
Loss related to derivative instrument	'	'	'	'	180,000	'	503,000	'	'
Gain related to derivative instrument	'	'	'	'	'	420,000	'	200,000	'
Repayment of subordinated liabilities	$50,000,000	$50,000,000	$50,000,000	'	'	'	'	'	'

Fair_Value_Partnerships_Financ

Fair Value - Partnership's Financial Assets at Fair Value (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	$1,378	$1,379
Inventory securities:	'	'
Total inventory securities	117	102
Investment securities:	'	'
Total investment securities	150	141
Other [Member]	'	'
Inventory securities:	'	'
Total inventory securities	2	1
Investment securities:	'	'
Total investment securities	1	1
Mutual funds [Member]	'	'
Investment securities:	'	'
Total investment securities	125	116
Government and agency obligations [Member]	'	'
Investment securities:	'	'
Total investment securities	19	19
Unit investment trusts [Member]	'	'
Inventory securities:	'	'
Total inventory securities	'	2
U.S. treasuries [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	1,153	1,154
State and municipal obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	59	67
Collateralized mortgage obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	3	'
Equities [Member]	'	'
Inventory securities:	'	'
Total inventory securities	38	27
Investment securities:	'	'
Total investment securities	5	5
Corporate bonds and notes [Member]	'	'
Inventory securities:	'	'
Total inventory securities	4	3
Certificates of deposit [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	225	225
Inventory securities:	'	'
Total inventory securities	11	2
Level I [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	1,153	1,154
Inventory securities:	'	'
Total inventory securities	40	29
Investment securities:	'	'
Total investment securities	149	140
Level I [Member] | Other [Member]	'	'
Inventory securities:	'	'
Total inventory securities	2	0
Investment securities:	'	'
Total investment securities	0	0
Level I [Member] | Mutual funds [Member]	'	'
Investment securities:	'	'
Total investment securities	125	116
Level I [Member] | Government and agency obligations [Member]	'	'
Investment securities:	'	'
Total investment securities	19	19
Level I [Member] | Unit investment trusts [Member]	'	'
Inventory securities:	'	'
Total inventory securities	'	2
Level I [Member] | U.S. treasuries [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	1,153	1,154
Level I [Member] | State and municipal obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Level I [Member] | Collateralized mortgage obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	'
Level I [Member] | Equities [Member]	'	'
Inventory securities:	'	'
Total inventory securities	38	27
Investment securities:	'	'
Total investment securities	5	5
Level I [Member] | Corporate bonds and notes [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Level I [Member] | Certificates of deposit [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	0	0
Inventory securities:	'	'
Total inventory securities	0	0
Level II [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	225	225
Inventory securities:	'	'
Total inventory securities	77	73
Investment securities:	'	'
Total investment securities	1	1
Level II [Member] | Other [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	1
Investment securities:	'	'
Total investment securities	1	1
Level II [Member] | Mutual funds [Member]	'	'
Investment securities:	'	'
Total investment securities	0	0
Level II [Member] | Government and agency obligations [Member]	'	'
Investment securities:	'	'
Total investment securities	0	0
Level II [Member] | Unit investment trusts [Member]	'	'
Inventory securities:	'	'
Total inventory securities	'	0
Level II [Member] | U.S. treasuries [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	0	0
Level II [Member] | State and municipal obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	59	67
Level II [Member] | Collateralized mortgage obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	3	'
Level II [Member] | Equities [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Investment securities:	'	'
Total investment securities	0	0
Level II [Member] | Corporate bonds and notes [Member]	'	'
Inventory securities:	'	'
Total inventory securities	4	3
Level II [Member] | Certificates of deposit [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	225	225
Inventory securities:	'	'
Total inventory securities	11	2
Level III [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	0	0
Inventory securities:	'	'
Total inventory securities	0	0
Investment securities:	'	'
Total investment securities	0	0
Level III [Member] | Other [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Investment securities:	'	'
Total investment securities	0	0
Level III [Member] | Mutual funds [Member]	'	'
Investment securities:	'	'
Total investment securities	0	0
Level III [Member] | Government and agency obligations [Member]	'	'
Investment securities:	'	'
Total investment securities	0	0
Level III [Member] | Unit investment trusts [Member]	'	'
Inventory securities:	'	'
Total inventory securities	'	0
Level III [Member] | U.S. treasuries [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	0	0
Level III [Member] | State and municipal obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Level III [Member] | Collateralized mortgage obligations [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	'
Level III [Member] | Equities [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Investment securities:	'	'
Total investment securities	0	0
Level III [Member] | Corporate bonds and notes [Member]	'	'
Inventory securities:	'	'
Total inventory securities	0	0
Level III [Member] | Certificates of deposit [Member]	'	'
Investments segregated under federal regulations:	'	'
Total investments segregated under federal regulations	0	0
Inventory securities:	'	'
Total inventory securities	$0	$0

Fair_Value_Partnerships_Financ1

Fair Value - Partnership's Financial Liabilities at Fair Value (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	$5	$4
Other [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	1	1
Corporate bonds and notes [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	2	2
Equities [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	2	1
Level I [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	2	1
Level I [Member] | Other [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level I [Member] | Corporate bonds and notes [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level I [Member] | Equities [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	2	1
Level II [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	3	3
Level II [Member] | Other [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	1	1
Level II [Member] | Corporate bonds and notes [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	2	2
Level II [Member] | Equities [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level III [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level III [Member] | Other [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level III [Member] | Corporate bonds and notes [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	0	0
Level III [Member] | Equities [Member]	'	'
Securities sold, not yet purchased:	'	'
Total securities sold, not yet purchased	$0	$0

Fair_Value_Estimated_Fair_Valu

Fair Value - Estimated Fair Values and Book Values of Long Term Debt and Liabilities Subordinated to Claims of General Creditors (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Liabilities Fair Value And Carrying Value Disclosure [Abstract]	'	'
Long-term debt, Book Value	$4	$4
Liabilities subordinated to claims of general creditors, Book Value	0	50
Total, Book Value	4	54
Long-term debt, Fair Value	4	5
Liabilities subordinated to claims of general creditors, Fair Value	0	50
Total, Fair Value	$4	$55

Lines_of_Credit_Composition_of

Lines of Credit - Composition of Partnership's Aggregate Bank Lines of Credit (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Line of Credit Facility [Line Items]	'	'
Line of Credit Facility	$815	$815
2013 Credit Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Line of Credit Facility	400	400
Uncommitted secured credit facilities [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Line of Credit Facility	$415	$415

Lines_of_Credit_Additional_Inf

Lines of Credit - Additional Information (Detail) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014	Dec. 31, 2013
	Bank
Line of Credit Facility [Line Items]	'	'
Unsecured revolving line of credit	$815	$815
2013 Credit Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Expiration date of unsecured revolving line of credit	15-Nov-18	'
Number of banks with which agreement made	12	'
Number of years for unsecured revolving line of credit	'5 years	'
Unsecured revolving line of credit	400	400
Debt instrument basis spread on LIBOR minimum on a three day advance notice	1.25%	'
Debt instrument basis spread on LIBOR maximum on a three day advance notice	2.00%	'
Debt instrument basis spread on variable rate minimum on same day borrowing	0.25%	'
Debt instrument basis spread on variable rate maximum on same day borrowing	1.00%	'
Federal funds effective rate plus 1%	1.00%	'
LIBOR rate plus 1%	1.00%	'
Maximum leverage ratio required to be maintained by partnership	35.00%	'
Required minimum partnership capital, net of reserve for anticipated withdrawals	1,382	'
Additional issuances of partnership capital	50.00%	'
Amount outstanding under credit facility	0	0
Partnership draws against lines of credit	0	0
Uncommitted secured credit facilities [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Unsecured revolving line of credit	415	415
Amount outstanding under credit facility	0	0
Partnership draws against lines of credit	$0	$0

Recovered_Sheet2

Partnership Capital Subject to Mandatory Redemption - Composition of Partnership's Capital Subject to Mandatory Redemption (Detail) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014	Dec. 31, 2013	Jun. 28, 2013	Dec. 31, 2012
Partnership capital outstanding:	'	'	'	'
Limited partnership capital	$637	$640	'	'
Subordinated limited partnership capital	337	305	'	'
General partnership capital	1,171	1,128	'	'
Total partnership capital outstanding	2,145	2,073	'	'
Partnership loans outstanding:	'	'	'	'
Partnership loans outstanding at beginning of period	-215	-170	'	'
Partnership loans issued during the period	-84	-107	'	'
Repayment of partnership loans during the period	83	62	'	'
Total partnership loans outstanding	-216	-215	'	'
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals	1,929	1,858	1,811	1,812
Reserve for anticipated withdrawals	110	223	96	171
Partnership capital subject to mandatory redemption	$2,039	$2,081	$1,907	$1,983

Recovered_Sheet3

Partnership Capital Subject to Mandatory Redemption - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013	Dec. 31, 2013	Dec. 31, 2012
			CapitalClass
			Capital_Repayment
			Segment
Limited Partners' Capital Account [Line Items]	'	'	'	'	'	'
Period for partner's capital redemption in the event of death	'	'	'6 months	'	'	'
Number of annual capital repayments for withdrawal of limited partners	'	'	3	'	'	'
Period to begin repaying capital upon withdrawal for limited partners	'	'	'90 days	'	'	'
Number of annual capital repayments for withdrawal of subordinated limited partners	'	'	6	'	'	'
Period to begin repaying capital upon withdrawal for subordinated limited partners	'	'	'90 days	'	'	'
Net income after allocations to partners	'	'	$0	'	'	'
Number of partnership's classes of capital for allocation of net income	'	'	3	'	'	'
2014 Employee Limited Partnership Interest Purchase Plan offering price	350	'	350	'	'	'
Limited Partnership's minimum annual return rate	'	'	7.50%	'	'	'
Reserve for Limited Partnership's minimum annual return	0	'	0	'	'	'
Period of loans made by Partnership to general partners	'	'	'1 year	'	'	'
Outstanding amount of partner loans financed through the Partnership	216	'	216	'	215	170
Interest income from outstanding amount of general partner loan	2	2	4	4	'	'
Limited Partnership's minimum return, value	12	12	24	24	'	'
Financial Advisors, Branch Office Administrators and Home Office Associates [Member]	'	'	'	'	'	'
Limited Partners' Capital Account [Line Items]	'	'	'	'	'	'
2014 Employee Limited Partnership Interest Purchase Plan offering price	300	'	300	'	'	'
Financial Advisors [Member]	'	'	'	'	'	'
Limited Partners' Capital Account [Line Items]	'	'	'	'	'	'
2014 Employee Limited Partnership Interest Purchase Plan offering price	$50	'	$50	'	'	'

Net_Capital_Requirements_Addit

Net Capital Requirements - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014
Net Capital Requirements [Abstract]	'
Percentage of aggregate debit items arising from customer transactions to maintain minimum net capital requirements	2.00%
Minimum net capital requirements	$0.25

Net_Capital_Requirements_Partn

Net Capital Requirements - Partnership's Net Capital Figures for U.S. and Canada Broker-Dealers (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
United States of America [Member]	'	'
Regulatory Capital Requirements	'	'
Net capital	$913	$873
Net capital in excess of the minimum required	866	830
Net capital as a percentage of aggregate debit items	39.00%	41.40%
Net capital after anticipated capital withdrawals, as a percentage of aggregate debit items	26.20%	24.80%
Canada [Member]	'	'
Regulatory Capital Requirements	'	'
Regulatory risk adjusted capital	29	34
Regulatory risk adjusted capital in excess of the minimum required to be held by IIROC	$21	$27

Contingencies_Additional_Infor

Contingencies - Additional Information (Detail) (USD $)	Jun. 27, 2014
In Millions, unless otherwise specified
Minimum [Member]	'
Loss Contingencies [Line Items]	'
Current estimated possible loss	$7
Maximum [Member]	'
Loss Contingencies [Line Items]	'
Current estimated possible loss	$43

Segment_Information_Additional

Segment Information - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013
	Segment	Segment	Segment	Segment
Segment Reporting [Abstract]	'	'	'	'
Number of operating segments	2	2	2	2
Number of reportable Segments	'	'	2	'
Partnership's total revenue derived from one mutual fund company	20.00%	20.00%	20.00%	20.00%

Segment_Information_Financial_

Segment Information - Financial Information for Partnership's Reportable Segments (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 27, 2014	Jun. 28, 2013	Jun. 27, 2014	Jun. 28, 2013
Net revenue:	'	'	'	'
Total net revenue	$1,564	$1,416	$3,054	$2,752
Pre-variable income:	'	'	'	'
Total pre-variable income	389	325	753	609
Variable compensation:	'	'	'	'
Total variable compensation	195	153	373	288
Income (loss) before allocations to partners:	'	'	'	'
Total income before allocations to partners	194	172	380	321
United States of America [Member]	'	'	'	'
Net revenue:	'	'	'	'
Total net revenue	1,513	1,366	2,951	2,650
Pre-variable income:	'	'	'	'
Total pre-variable income	387	323	746	604
Variable compensation:	'	'	'	'
Total variable compensation	189	148	362	279
Income (loss) before allocations to partners:	'	'	'	'
Total income before allocations to partners	198	175	384	325
Canada [Member]	'	'	'	'
Net revenue:	'	'	'	'
Total net revenue	51	50	103	102
Pre-variable income:	'	'	'	'
Total pre-variable income	2	2	7	5
Variable compensation:	'	'	'	'
Total variable compensation	6	5	11	9
Income (loss) before allocations to partners:	'	'	'	'
Total income before allocations to partners	($4)	($3)	($4)	($4)

Recovered_Sheet4

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Detail) (USD $)	Jun. 27, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Offsetting Securities Purchased Under Agreements To Resell [Abstract]	'	'
Securities purchased under agreements to resell, Gross amounts of recognized assets	$583	$1,026
Securities purchased under agreements to resell, Gross amounts offset in the Consolidated Statements of Financial Condition	0	0
Securities purchased under agreements to resell, Net amounts presented in the Consolidated Statements of Financial Condition	583	1,026
Securities purchased under agreements to resell, gross amounts not offset, financial instruments	0	0
Securities purchased under agreements to resell, gross amounts not offset, securities collateral	-583	-1,026
Securities purchased under agreements to resell, Net amount	$0	$0

Recovered_Sheet5

Offsetting Assets and Liabilities - Schedule of Partnership's Securities Purchased Under Agreement to Resell (Parenthetical) (Detail) (Minimum [Member])	Jun. 27, 2014	Dec. 31, 2013
United States of America [Member]	'	'
Offsetting Assets And Liabilities [Line Items]	'	'
Actual collateral of related assets	102.00%	102.00%
Canada [Member]	'	'
Offsetting Assets And Liabilities [Line Items]	'	'
Actual collateral of related assets	100.00%	100.00%